The Banker's annual list places Dubai alongside hubs such as London, New York and Hong Kong
Dubai has been ranked 10th in The Banker magazine’s annual international financial centre (IFC) rankings, placing it alongside hubs such as London, New York, Hong Kong and Singapore.
Since its establishment in 2004, Dubai International Financial Centre (DIFC) has become the leading financial hub for the Middle East, Africa and South Asia (MEASA) region.
In the first six months of 2017, it grew by 6.2 percent to 1,750 incorporated companies. This followed 14 percent growth over the course of 2016.
DIFC offers companies an independent regulator, an independent judicial system with an English common-law framework and a global financial exchange.
The Banker, part of the Financial Times Group, said the ranking is based on data ranging from financial markets indicators to economic potential to business environment factors.